Comment Text:
I, Janet L Brown, work full-time in the public sector and commute to work. I am single, have no children, live alone, and support myself.
I commute 34 miles round-trip each day to work. I also purchase all sundries, goods, food, appliances and services for my home. My standard of living is falling at a frightening rate.
I believe a limit on speculation is needed in the commidities market. The recent emergence of internet-based access has promoted the ability of private individuals to play at investment as if it were a game. This is introducing a level of volatility the likes of which we have never seen. This, and unregulated ability of banks to manipulate the commodoties markets are negatively affecting us, the end consumer, who, ultimately pay the price for the gambling of a few.
We can't get loans; we're seeing prices rise at frightening rates; and we're seeing staggering growth in the numbers of the un- and under-employed.
And it all comes down to rampant speculation - both by licensed and unlicensed investors.
Put an end to this now. I don't know how famlies are feeding their children. I make a staggering amount of money, yet I can't afford to save what I save when I made 1/5 of what I make today. I'm not talking pro-rated amounts; I mean actual dollars.
CFTC should put in place a rule with strong position limits to control excessive gambling. The CFTC should not allow exemptions or exceptions that undermine the rule, and should not give any exemptions to banks, hedge funds or other financial players.
